Domestic Credit in Times of Supervision: an Empirical Investigation of European Countries

Thomas Jobert (), Alexandru Monahov and Anna Tykhonenko ()
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Thomas Jobert: GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur

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Abstract: We study the impact of prudential supervision on domestic credit in 27 European countries throughout 1999-2012. We use the Empirical Iterative Bayes estimator to account for country heterogeneity. We find: (i) the interest rate not to be a fundamental variable in explaining domestic credit, (ii) negative relations between credit sensitivity to past investment and to financial dependence, (iii) that the effects of supervision on credit differ by country, but (iv) that it is possible to achieve an increase in supervisory stringency with positive effects on credit in the context of unified financial supervision.

Keywords: Banking system supervision; Financial institution regulation; Prudential supervision; Supervision in the EU; Bayesian shrinkage estimator (search for similar items in EconPapers)
Date: 2015
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Working Paper: Domestic Credit in Times of Supervision: An Empirical Investigation of European Countries (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:halshs-01295606

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